Comment Text:
Dear Sir/Madam,
It is really simple, as a private investor I am struggling to workout where to put my savings. It has become obviously clear and without doubt that company fundamentals do not matter. How can I possibly purchase stocks in US companies when I know high frequency computers will suck the juice out of them? This kind of culture is also encouraging corrupt companies to collaborate with HFT firms by manipulating quarterly results to affect share prices. Corrupt company directors have four goes per year to semi-balance their sheets, while they scam off volatility created by computers connected directly to exchanges and bypassing brokers.
In order to fool investors and traders, often in a day HFT shift popular stocks in the opposite direction to the relevant Index. Neither short or long term can an investor trust their cash is safe. To be a an investor I need stability in the market and I need the current casino culture to be eliminated. HFT firms have information on individuals trading positions and have advanced direct news feed releases, which is remarkable in a civilized world.
Regarding the argument that technology is evolving and so is HFT; as an analogy, we now can make cars that speed over 200mph, but do you want to let them do that on our public roads?
Please consider the long term harm HFT and algorithmic computers are causing to our recovery and economy and hence to the prospects of our future generations.
Thanks You
Jorge Peters
